Gotham Asset Management LLC Grows Holdings in TechnipFMC plc $FTI

Gotham Asset Management LLC boosted its stake in shares of TechnipFMC plc (NYSE:FTI) by 65.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,336,215 shares of the oil and gas company’s stock after buying an additional 527,215 shares during the quarter. Gotham Asset Management LLC owned approximately 0.33% of TechnipFMC worth $59,542,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FTI. Harbor Investment Advisory LLC purchased a new stake in shares of TechnipFMC in the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TechnipFMC in the fourth quarter valued at about $41,000. Torren Management LLC purchased a new stake in TechnipFMC in the fourth quarter worth about $45,000. Finally, Geneos Wealth Management Inc. increased its holdings in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on FTI shares. Piper Sandler upped their target price on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Wednesday, May 6th. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Finally, BMO Capital Markets boosted their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.71.

TechnipFMC Trading Up 0.4%

TechnipFMC stock opened at $67.24 on Thursday. The firm has a market cap of $26.81 billion, a PE ratio of 25.66, a P/E/G ratio of 1.44 and a beta of 0.69. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78. The stock’s 50 day simple moving average is $71.44 and its two-hundred day simple moving average is $61.74. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company posted $0.33 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 7.63%.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the transaction, the director directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.